Chicago, Illinois prices:$2,000 in 1965→$15,335.93 in 2020

Inflation in Illinois

Prices in Chicago, 1965-2020 ($2,000)

According to the U.S. Bureau of Labor Statistics, prices in Chicago, Illinois were
666.80% higher
in 2020 versus 1965 (a $13,335.93 difference in value).

Between 1965 and 2020:Chicago experienced an average inflation rate of 3.77% per year.
This rate of change indicates significant inflation.
In other words, $2,000 in Chicago in the year 1965 would cost $15,335.93 in 2020 for an equivalent purchase.
Compared to the overall inflation rate of 3.90% during this same period, inflation in Chicago was
lower.

In the year 1965: Pricing changed by 1.33%, which is
below the average yearly
change in Chicago during the 1965-2020 time period.
Compared to inflation for all items in 1965 (1.59%), inflation in Chicago was
lower.

Price Inflation in Chicago, Illinois since 1914

Consumer Price Index, U.S. Bureau of Labor Statistics

Years with the largest changes in pricing:
1919 (21.36%),
1920 (19.10%),
and 1918 (16.80%).

How to calculate the inflation rate for Chicago, 1965-2020

Then plug in historical CPI values from above. The CPI for Chicago, Illinois was 31.683 in the year 1965 and 242.947 in 2020:

242.947 / 31.683* $2,000 = $15,335.93

Therefore, according to U.S. Bureau of Labor Statistics, $2,000 in 1965 has the same "purchasing power" as $15,335.93 in 2020 (in the CPI category of Chicago, Illinois).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Chicago, Illinois in 1914. In addition to Chicago, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.